CarMax's (KMX) Outperform Rating Reiterated at Wedbush

Wedbush restated their outperform rating on shares of CarMax (NYSE:KMX - Free Report) in a research report sent to investors on Monday, MarketBeat Ratings reports. Wedbush currently has a $90.00 price objective on the stock. Wedbush also issued estimates for CarMax's FY2027 earnings at $4.72 EPS.

Several other research analysts have also recently weighed in on KMX. JPMorgan Chase & Co. decreased their price target on shares of CarMax from $72.00 to $65.00 and set an "underweight" rating on the stock in a report on Thursday, March 27th. Royal Bank of Canada lowered their price target on CarMax from $103.00 to $80.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Cfra Research raised CarMax to a "strong-buy" rating in a report on Thursday, April 10th. Robert W. Baird lowered their target price on shares of CarMax from $95.00 to $90.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Finally, Stephens upgraded shares of CarMax from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $86.00 to $90.00 in a research report on Wednesday, March 26th. Four research analysts have rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $87.73.

CarMax Price Performance

Shares of KMX stock traded down $0.92 during trading hours on Monday, reaching $64.76. The stock had a trading volume of 318,036 shares, compared to its average volume of 2,089,383. The stock's fifty day simple moving average is $74.76 and its 200 day simple moving average is $78.49. The company has a current ratio of 2.30, a quick ratio of 0.55 and a debt-to-equity ratio of 2.92. The firm has a market capitalization of $9.89 billion, a PE ratio of 21.97, a PEG ratio of 1.67 and a beta of 1.58. CarMax has a 12 month low of $61.67 and a 12 month high of $91.25.

Insider Activity

In other news, SVP Tyler Tuite sold 4,869 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $84.58, for a total transaction of $411,820.02. Following the completion of the sale, the senior vice president now owns 227 shares of the company's stock, valued at approximately $19,199.66. This represents a 95.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.66% of the company's stock.

Institutional Investors Weigh In On CarMax

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of CarMax during the fourth quarter valued at about $423,187,000. Kovitz Investment Group Partners LLC increased its holdings in CarMax by 348.0% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 6,595,067 shares of the company's stock valued at $539,213,000 after purchasing an additional 5,122,850 shares during the period. AQR Capital Management LLC raised its position in CarMax by 82.9% during the 4th quarter. AQR Capital Management LLC now owns 1,400,012 shares of the company's stock valued at $114,465,000 after purchasing an additional 634,390 shares during the last quarter. GAMMA Investing LLC lifted its holdings in CarMax by 8,675.6% in the 1st quarter. GAMMA Investing LLC now owns 515,830 shares of the company's stock worth $40,193,000 after buying an additional 509,952 shares during the period. Finally, ThornTree Capital Partners LP bought a new stake in shares of CarMax in the 4th quarter worth approximately $35,612,000.

About CarMax

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.